ARAB NEWS: RIYADH – The Saudi Green Initiative offers a unique opportunity to manage our industries in new ways, according to Mohammed Alibrahim (Saudi Arabia’s assistant minister of oil and gas).
He spoke at Saturday’s panel discussion titled “Carbon intensive industries: Transitioning quickly, at scale” in Riyadh. He said that the circular carbon economy was at the core of the initiative.
He stated that the Kingdom had already taken an ambitious drive to increase energy efficiency in its industrial sector before the green initiative was launched. These efforts have yielded encouragement results. He stated that the Kingdom’s chemical, steel and cement industries have reduced its emissions by approximately 4 million tons annually.
According to the assistant minister, there are many investment opportunities in waste management and recycling.
Alibrahim stated that SABIC had already constructed a plant to capture 500,000 tons carbon dioxide per year. The gas is then purified and used for other purposes in different industries.
He stated that the Saudi Green Initiative, and the circle carbon economy, allow us to use carbon as a resource instead of looking at it as an issue.
“We are aiming to produce green hydrogen and blue hydrogen, to turn it into ammonia. We have shipped ammonia to Japan in the past year. And we plan to increase that.”
“We don’t want to be focused on one type of technology.”
Paddy Padmanathan is the CEO of ACWA Power. He stated: “The pathway to ultimately green hydrogen is needed energy, and even that will require electricity, basic ingredient is already in place.”
He urged all parties to build a supportive ecosystem.
“We can transform industrial consumption when hydrogen costs are reduced to less than $2/kilo. It is possible.”
Jasper Graf von Hardenberg is co-founder and Group CEO of Daystar USA. He stated: “Saudi Arabia has a greater responsibility, it could become the world No.1 supplier of green hydrogen.”
Morten Dyrholm (GSVP for MarCom and Sustainability, Vestas Wind System A/ S, Denmark) said: “With that plan Saudi Arabia is positioning itself at the center and we want to join this journey.”
“Companies must take responsibility for achieving net zero emissions through production .”
“Now, with all the policies being promoted in Saudi Arabia, there are signs that the Kingdom is headed to become more sustainable.”
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